Fri, Nov. 6, 12:58 PM
- Bonanza Creek Energy (BCEI +20.4%) is soaring following a much smaller than expected Q3 loss and the announcement of an asset sale.
- Q3 results were helped by a sharp decrease in cash operating costs to $14.01/boe, 16% lower than Q2; also, Q3 production volumes averaged 29K boe/day vs. guidance of 28.6K boe/day.
- BCEI also agreed to sell its Rocky Mountain Infrastructure subsidiary to a private midstream company for $255M, a move the company says will boost liquidity and provide drilling incentives in 2016-17.
Fri, Nov. 6, 12:44 PM
Fri, Nov. 6, 9:29 AM
Tue, Nov. 3, 12:48 PM
Fri, Sep. 18, 12:45 PM
Mon, Aug. 31, 11:54 AM
- Bonanza Creek Energy (BCEI +18.9%) rallies after Wunderlich reiterates its Buy rating and $29 price target, pointing out that BCEI has a negative implied land value vs. peers' land value of ~6K/acres - a "huge disconnect," the firm says.
- Wunderlich says the recent pressure on BCEI is due to falling on the short side of the Wattenberg pair trades, but BCEI notes that most of its debts (~$800M) is long duration, covenant light, high-yield paper.
Mon, Aug. 24, 5:36 PM
Wed, Jul. 22, 3:57 PM
- Bonanza Creek Energy (BCEI -6.4%) says it is unaware of any fundamental reason, catalyst or material adverse event that would account for its significant relative stock price underperformance in recent weeks.
- BCEI says it is concerned about a significant increase in its short interest despite record high production rates, ample liquidity, a strong balance sheet and recurring evidence of sustainable capital cost reductions and field development efficiencies.
- The stock has been slashed by more than half in the past month, including a 22% drop this week alone.
Wed, Apr. 15, 5:35 PM
Tue, Apr. 14, 5:36 PM
Fri, Mar. 13, 5:40 PM
Tue, Feb. 3, 7:48 AM
- Bonanza Creek Energy (NYSE:BCEI) -5.1% premarket after launching a public offering of 4M shares of its common stock.
- BCEI says it will use part of the proceeds to repay all outstanding borrowings under its revolving credit facility and the remainder for general corporate purposes, which may include funding its drilling and development program and other capital expenditures.
Tue, Jan. 20, 10:49 AM
- Bonanza Creek Energy (BCEI -7.5%) says it will cut 2015 capital spending by 36%-38% Y/Y and invest $420M in its projects in the Wattenberg field and Arkansas.
- BCEI says the budget will maintain its 2014 exit rate sales volumes through the full year, achieving ~15% Y/Y annual growth.
- Expects to spend ~$380M in the Wattenberg field to achieve sales volumes of 23.7M boe/day for the year, ~23% growth.
Nov. 28, 2014, 10:28 AM
- Ladenburg Thalman throws in the towel on Oasis Petroleum (OAS -30%), Denbury Resources (DNR -14.9%), Resolute Energy (REN -18.3%) following OPEC's decision yesterday to hold production levels and the resulting tumble in crude oil, with WTI crude -6.4% to $69.95 per barrel.
- Some others: Bonanza Creek (BCEI -21.5%), Northern Oil & Gas (NOG -16.2%), Warren Resources (WRES -16.3%), Halcon Resources (HK -22%), Triangle Petroleum (TPLM -21%), Emerald Oil (EOX -26.4%), Kodiak Oil & Gas (KOG -19.3%).
May 22, 2014, 12:46 PM
May 9, 2014, 3:58 PM
- Bonanza Creek Energy (BCEI -8.5%) is sharply lower after Q1 earnings miss estimates as production declines 9% Q/Q 19.7M boe/day.
- Reaffirms 2014 production guidance of 23K-25K boe/day.
- However, Brean Capital upgrades shares to Buy from Hold with a $61 price target, believing Q1 will mark a low point for production going forward; the firm forecasts increased completions activity, commencing in Q2 and continuing throughout 2014.
Bonanza Creek Energy Inc is an independent energy company. The Company is engaged in acquisition, exploration, development & production of onshore oil & natural gas in U.S. Its operations are focused in Rocky Mountain.
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